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Slayt: 1
Why is that so surprising? She's simply in a sole proprietorship in a monopolistic competition.
Omg did you hear Becky is opening her bakery today?.... BY HERSELF! Can you believe that..
I'm sorry a what? What does that even mean?
Slayt: 2
It means that this is her own business, everything is owned by her. Monopolistic competition also just means that acts as a small, independent firm, using product differentiation some price-setting power. They face low barriers to entry, high competition, and must innovate to stay profitable
Okay well everyone is still using the same idea.. like can we get something new? Wouldn't everyone just stick to one bakery? What happens if they do? What about the other bakeries?
Slayt: 3
Well considering that everyone is opening bakeries, their supply would be somewhat high and their demand would be slightly downward
Yes but there are some flaws, as everything always has that, the cons being unable to raise funds, or limited capital. But like everything bad thing there's always something somewhat good, like you have complete control over everything and you have a low start cost!
Well, all I'm saying is that it would super hard considering that you are liable for EVERYTHING.
Wow! Maybe I should start a business...

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